Salvage auction...

Auto Salvage Auction: Auto salvage auction is a way used to sell millions of vehicles every year. Such auctions are generally not open to the public, and only dealers who have appropriate licenses are able to participate in them. There are various companies, which hold auto salvage auctions on predetermined days at specific locations. For example, an auto salvage auction company with two auction locations will hold auctions at the places, on two different days of the week. Live auto salvage auctions are conducted via the computer, which provides digital images of the items being sold. Salvage dealers who participate in these auctions have to be registered with the company holding the auctions. The auctions are generally made only in lots, having a specific number of vehicles in each lot. Inspections of salvage auction vehicles are usually allowed one or two days before the auction date. Online auto salvage auction companies permit online bidding through their websites after registering with them, which are also open to the public. The websites give the details of the kind of damage sustained by the vehicles being auctioned and the title type, i.e. clean title or salvage certificate etc. The salvage auction companies also conduct motorcycle salvage auctions. These are mainly insurance salvage motorcycle auctions.

Copart Salvage auctions: Copart Inc is a salvage auction company that was established in the year 1982. Salvage auctions by Copart are made to vehicle dealers, re-builders and dismantlers who have a valid license. Its primary source of vehicles are insurance companies, which provide automobiles for auction that are considered a total loss, or those that are reported stolen, and recovered after the settlement of claims with the owner. Copart charges a fee for salvage auctions, both from the vehicle supplier and the purchaser. It takes care of the entire process, and allows the insurance companies to save on administrative and processing costs. Apart from the auction fee, they also charge for providing towing and storage services. Since 1982, the company has grown substantially in stature, and is now listed on NASDAQ as CPRT. It has a wide area of operations with over one hundred facilities in the US and Canada.

Boat Salvage Auctions: Boat salvage auctions are held for auctioning all kinds of damaged and insurance salvaged boats. As boat salvage is governed by Maritime law, boat salvage auctions are also subject to it. Marine equipment, including marine cargo, can also be bought at boat salvage auctions.

Car Salvage Auctions: Car salvage auctions, which are open to the public, are generally held by online auto salvage auction companies, which advertise the details on their websites. The picture of the car with the technical details is available on the car salvage auction site. Many of the cars have a clear title, whereas many are auctioned off by auto insurance companies at car salvage auctions because of damage. These cars require a title reconstruction before they can be legally used on the road. According to this process, the car has to be repaired and inspected by an authorized mechanic. It then needs to be certified by the DMV as having been reconstructed according to the specifications of the manufacturer. This serves as a clean title for the purpose of insurance and registration. The company selling the vehicle in the car salvage auction makes no guarantee that the car will be able to get the title reconstructed.

Salvage auctions are held for a variety of vehicles, from cars and motorcycles to boats and aircraft. The main items at such auctions are insurance write offs, for which insurance companies have settled claims. Such auctions are generally open only to licensed dealers.